Understanding the Probate and Will Process, Real Estate Law, and Corporate Law Probate is a court proceeding, which is being undertaken, to establish proof that your will is unquestionably a genuine will and to ensure that your assets are properly distributed to your heirs and creditors, such that this process may take a while to verify, but as long as you have a properly executed and up-to-date will, the process can be fast and less expensive. The process also includes the setting up of deadlines for your appointed representative to comply so he/she can notify your heirs and creditors of your death, as well as transferring your assets to the designated heirs and creditors. One particular benefit that can come out of probate is with regards to the time allowed for creditors to collect from your estate, which is just about four months, instead of a year. Real estate law is a procedural means of determining who may own and use the land and buildings in it, and the process details the following: categorizing if the real property is residential or commercial, including the manner of ownership, sole, conjugal, or corporate, and verifying how the real estate property is used, whether rented or personal, as well as establishing if the purchase of the land was properly transacted and documented, including ownership of the land, whether owned solely, corporate or pass between family members through estate planning. Another point in case in real estate law concerns the purposes of which land is used, which must comply with local zoning laws and that landowners may not incur damage to the surrounding environment.
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Commercial law, which is also called business law or corporate law, is a system of legal procedures which is applied to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. The following scopes of application are covered by commercial law: principal and agent, carriage by land and sea, merchant shipping, guarantee, marine, fire, life, and accident insurance, bills of exchange/negotiable instruments/contracts and partnership. Commercial law may also intervene in standardizing regulations with regards to corporate contracts, hiring practices, and the manufacture and sales of consumer goods.
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Since commercial law is found in state statutes, there are likely conflicting rules in enacting commercial law per state, which may disrupt the flow of interstate commerce, and for this reason, the Uniform Commercial Code (UCC) was created to remedy the predicament, such that a non-governmental body provided a standardized set of statutes dealing with commercial law, wherein, this time, each state is free to adopt.